HTC’s poor financial performance worsened during the third quarter, as the company revealed on Monday that it swung to a net loss during the three months to 30 September.
According to the Taiwanese smartphone maker’s latest unaudited results, revenue in the third quarter came in at NT$21.4 billion (€586.9 million), compared to NT$41.9 billion in the year-ago quarter and NT$33 billion in Q2.
HTC swung to an operating loss of NT$4.94 billion (€135.48 million) from an operating profit of NT$157.2 million a year ago.
It notched up a net loss of NT$4.48 billion, compared to a net profit of NT$600 million (€16.46 million) in Q3 2014.
Monday’s unaudited figures were in line with the guidance published by HTC alongside its second quarter results in August.
According to a Reuters report at the time, HTC plans to cut a significant number of jobs across the organisation, as part of a company-wide efficiency plan designed to reduce operating costs and allocate resources for future growth.
In June, HTC began a strategic review of its assets amid lower demand for its flagship smartphone, the One M9, and weak sales in China.
Chairwoman and CEO Cher Wang set four business goals for 2015: making her company’s smartphones more competitive, improving efficiency, streamlining business processes, and pursuing opportunities beyond smartphones.
Judging by HTC’s unaudited Q3 figures, these goals have yet to be met.
